Course Description
The Opportunity Zone program is the first new national community investment program in over 15 years and has the potential to be the largest economic development program in the United States. Intended to spur job creation, economic development and tax incentives to drive long-term investment to rural and low-income urban communities throughout the nation in distressed communities, the U.S. government has added Opportunity Zones to the tax code under the Tax Cuts and Jobs Act. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements.
Many investors are curios, or at the least tempted, to sow for the harvest of new Qualified Opportunity Zone (QOZ) tax breaks. Beyond the economic risk of investing in property in distressed areas, the problem is the QOZ statutes and regs don’t provide enough certainty to give would-be investors the comfort to give it a go. On April 17, 2019, Treasury dropped into our laps the second batch of long awaited QOZ proposed regulations. This is very good news. But, the bad news is we did not get all the news we needed. Either way, investors need answers today.
In this new webinar, you’ll learn:
- The backstory: QOZ statutory scheme and first round of proposed regs (Act 1)
- All-new round 2 of proposed regs (Act 2)
- What Treasury and IRS have yet to tell us (Act 3)
Highlights of the webinar:
- Recent Updates and Developments
- IRS Regulations and O-Zones
- Qualified Opportunity Funds (QOF)
- Challenges Encountered
- Strategies to Maximize Benefits
Recommended for CPAs, EAs, tax preparers and other tax professionals with responsibility for assisting clients with tax-planning strategies.